Tuesday, May 08, 2007
MultiCell Technologies Signs Key Formulation and Supply Agreement With Merck KGaA & Co. Spittal/Drau
Agreement Brings MultiCell Closer to Initiation of Phase IIb Clinical Trials
SAN DIEGO, CA--(MARKET WIRE)--Apr 18, 2007 -- MultiCell Technologies, Inc. (OTC BB:MCET.OB - News) has entered into an agreement with Merck KGaA & Co. Spittal/Drau Austria for the formulation and supply of one of the active components of MCT-125, MultiCell's Phase IIb drug for the treatment of chronic fatigue in patients with multiple sclerosis (MS).
About two million people worldwide are afflicted with MS, and an estimated 10,000 new MS cases are diagnosed yearly in the USA. Over 75% of MS sufferers report chronic fatigue and 50% to 60% report chronic fatigue as the worst symptom of their disease. Chronic fatigue severely affects an individual's quality of life. In approximately 30% of MS patients, chronic fatigue is the first symptom, and there is no FDA-approved treatment available for this disease.
In a 138-patient, multi-center, double-blind, placebo-controlled Phase II clinical trial conducted in the United Kingdom, MCT-125 demonstrated efficacy in significantly reducing the levels of fatigue in all three types of MS patients enrolled in the study. MCT-125 demonstrated effectiveness within 4 weeks of the first daily oral dosing. Patients enrolled in the Phase II trial also reported few if any side effects following daily oral dosing of MCT-125. The initial trials were conducted by Amarin Corporation plc who developed the drug as LAX-202.
"We are pleased to have the opportunity to work with an outstanding company like Merck KGaA & Co. Spittal/Drau, and look forward to a long-term relationship. This contract is another key component required for us to commence planned Phase IIb human clinical trials. We are building a solid foundation for the future development of this much need therapeutic, and each new agreement brings this plan closer to reality," stated Dr. Stephen Chang, President and CEO of MultiCell Technologies.
About Merck KGaA & Co. Spittal/Drau
Merck KGaA & Co. Spittal/Drau Austria manufactures bulk and finished pharmaceutical products for third parties, including solid oral dosage forms, semisolids, and liquid products. Merck KGaA & Co. Spittal/Drau is well known for its high quality, excellent customer service, pharmaceutical technology know-how, and optimizing production processes in coordination with its customers. For more information about Merck KGaA & Co. Spittal/Drau Austria see http://www.merck-spittal.at.
About MultiCell Technologies
MultiCell Technologies, Inc. is developing first-in-class drugs based on advanced immune system modulation technologies, and is an integrated biopharmaceutical company committed to the development of breakthrough therapeutics based on a portfolio of therapeutic candidates and patented drug development technologies. MultiCell's drug development program focuses on modulation of the immune system.
MultiCell's therapeutic pipeline includes:
MCT-125 a Phase IIb drug for the treatment of chronic fatigue in MS
MCT-175 for the treatment of relapsing-remitting MS.
MCT-275 for the treatment of juvenile diabetes.
MCT-465 for the treatment of virus infection and cancer.
MCT-475 for the treatment of colorectal cancer.
The Company also holds unique cell-based technology for use in drug discovery screening applications, and is a leading producer of the cell lines needed by the pharmaceutical industry to develop new drugs. For more information about MultiCell Technologies, please visit http://www.multicelltech.com.
Caution Regarding Forward-Looking Statements
Any statements in this press release about MultiCell's expectations, beliefs, plans, objectives, assumptions or future events or performance are not historical facts and are forward-looking statements for purposes of the Private Securities Litigation Reform Act of 1995 (the "Act"). These statements are often, but not always, made through the use of words or phrases such as "believe," "will," "expect," "anticipate," "estimate," "intend," "plan," "forecast," "could," and "would." Examples of such forward looking statements include statements regarding the timing, design, scope, and anticipated results of our clinical development programs. MultiCell bases these forward-looking statements on current expectations about future events. They involve known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to differ materially from those expressed or implied by any forward-looking statement. Some of the risks, uncertainties and assumptions that could cause actual results to differ materially from estimates or projections in the forward-looking statement include, but are not limited to, the risk that we might not achieve our anticipated clinical development milestones, receive regulatory approval, or successfully commercialize our products as expected, the market for our products will not grow as expected, and the risk that our products will not achieve expectations. For additional information about risks and uncertainties MultiCell faces, see documents MultiCell files with the SEC, including MultiCell's report on Form 10-KSB for the fiscal year ended November 30, 2006, and all our quarterly and other periodic SEC filings. MultiCell claims the protection of the safe harbor for forward-looking statements under the Act and each assume no obligation and expressly disclaim any duty to update any forward-looking statement to reflect events or circumstances after the date of this news release or to reflect the occurrence of subsequent events.
MultiCell Technologies, Inc.
Dr. Stephen Chang, 858.200.0598
Source: Market Wire (Wednesday April 18, 9:00 am ET)